IVV vs QQQ: 54% overlap
iShares Core S&P 500 ETF and Invesco QQQ Trust share 53.8% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
You would hold two tickers and get the diversification of 1.5. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
IVV and QQQ hold 87 of the same securities. The ten contributing most to the overlap figure:
| Holding | in IVV | in QQQ | Δ |
|---|---|---|---|
| NVDA | 7.8% | 8.1% | 0.4% |
| AAPL | 7.7% | 8.1% | 0.4% |
| MSFT | 5.8% | 6.2% | 0.3% |
| AMZN | 3.7% | 4.3% | 0.6% |
| GOOGL | 2.9% | 3.0% | 0.2% |
| AVGO | 2.3% | 2.4% | 0.1% |
| GOOG | 2.3% | 2.8% | 0.5% |
| META | 2.2% | 3.1% | 0.9% |
| TSLA | 1.6% | 3.1% | 1.5% |
| MU | 1.5% | 4.3% | 2.8% |
Where IVV and QQQ differ
Sector weights as a share of each fund, ordered by the size of the gap rather than the size of the sector — two funds that overlap heavily still usually diverge somewhere.
| Sector | IVV | QQQ | Δ |
|---|---|---|---|
| Information Technology | 37.5% | 56.0% | −18.6pp |
| Financials | 12.0% | 0.2% | +11.8pp |
| Health Care | 9.9% | 4.5% | +5.4pp |
| Communication Services | 9.2% | 14.5% | −5.3pp |
| Industrials | 8.0% | 3.3% | +4.7pp |
| Energy | 3.7% | 0.5% | +3.2pp |
| Real Estate | 1.7% | 0.0% | +1.7pp |
| Consumer Discretionary | 8.9% | 10.7% | −1.7pp |
Δ is IVV minus QQQ, in percentage points. Sector data is not published by every issuer, so “Unclassified” is a real category rather than a gap in the table.
What each fund holds alone
46.1% of IVV by weight, held in no part of QQQ.
6.9% of QQQ by weight, held in no part of IVV.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| IVV | QQQ | |
|---|---|---|
| Top 10 holdings | 37.8% | 46.7% |
| Positions held | 506 | 102 |
| Cost per $10,000 held, per year | $3 | $20 |
Cost is the expense ratio applied to $10,000; it excludes any brokerage commission, bid-ask spread or tax consequence. Figures are facts about the funds, not a suggestion about which to hold.
Frequently asked
How much do IVV and QQQ overlap?
IVV and QQQ overlap 53.8% by portfolio weight — substantial duplication if you hold both. They share 87 holdings. The figure comes from current issuer holdings files (IVV as of 2026-10-22, QQQ as of 2026-10-22).
How is the overlap between IVV and QQQ calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If IVV holds a stock at 6% and QQQ holds the same stock at 4%, 4% counts as shared. The result is bounded between 0% and 100%, and it is computed after looking through any fund-of-funds to the underlying holdings.
Is it redundant to hold both IVV and QQQ?
That depends on your goals — we state facts, not advice. At 53.8% overlap, each fund still contributes meaningfully distinct exposure.
What does IVV own that QQQ doesn't?
IVV holds 506 positions and QQQ holds 102; 418 of IVV's positions don't appear in QQQ at all, and they are 46.1% of IVV by weight.
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Related comparisons
Sources: issuer holdings files, IVV as of 2026-10-22, QQQ as of 2026-10-22. Weights are fractions of each fund. Diagnostics, not advice.